IDBI Capital: VIP Industries Logs Another Weak Quarter; No Respite In The Near Future 
Travelers pull luggage while walking through airport in New York, U.S. (Photographer: David Williams/Bloomberg)

IDBI Capital: VIP Industries Logs Another Weak Quarter; No Respite In The Near Future 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

VIP Industries Ltd. reported significantly weaker than expected Q2 FY21 results.

This was due to adverse impact of Covid-19 that has affected travel and tourism; thus adversely affecting luggage, handbags and backpack sales.

The company’s net sales fell 75.1% YoY to Rs 1,028 million (50% below our forecast).

Ebitda loss stood at Rs 221 million compared to Ebitda of Rs 663 million in Q2 FY20.

The company aims to conserve cash and cut fixed costs in FY21.

Click on the attachment to read the full report:

IDBI Capital VIP Q2FY21 Result Update .pdf

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